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SINGAPORE – Olam Group Limited (“Olam Group”) announced today that its wholly owned subsidiary, olam food ingredients (“ofi”), a global leader in naturally good food and beverage ingredients, has secured a term loan facility aggregating US$350 million (the “Facility”).
The Facility has Olam Treasury Pte Ltd as a Borrower and has a tenor of 2 years. The Facility is initially guaranteed by Olam Group Limited which will transfer to ofi Group Limited following the planned IPO and demerger of ofi.
Proceeds from the Facility will be applied towards refinancing of ofi’s existing loans and general corporate purposes.
DBS and ICBC participated in the Facility as Mandated Lead Arrangers. DBS has been appointed as the Facility agent.
About Olam Group
Olam Group is a leading food and agri-business supplying food, ingredients, feed and fibre to almost 22,000 customers worldwide. Our value chain spans over 60 countries and includes farming, processing and distribution operations, as well as a global network of farmers.
About ofi
olam food ingredients (“ofi”) is a new operating group born out of Olam. ofi offers sustainable, natural, value-added food products and ingredients so that consumers can enjoy the healthy and indulgent products they love. It consists of industry-leading businesses of cocoa, coffee, dairy, nuts, and spices.
